According to Neowin.net the console has reached "early warning" status in a "major American outlet". Apparently this means that the console is to be phased out in its current form and replaced by a newer SKU.
All seems a bit fishy to me - with Nintendo's console having being consistently sold out since it's launch I see no reason as to why Nintendo would start phasing out the current version of the console so suddenly. There is the possibility of the extension of a hard drive but this is something Nintendo have actively denied over recent times.
We will find out more in recent weeks or at E3.